{
  "ticker": {
    "uuid": "aeb52251-90de-459a-9eae-cdf837ef3745",
    "symbol": "HPAL",
    "name": "HP Adhesives Limited",
    "exchange": "NSI",
    "country": "IN",
    "assetType": "equity"
  },
  "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.",
  "analysis": {
    "eligible": true,
    "as_of": "2026-08-07",
    "benchmark": "^NSEI",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 96.0,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -55.792,
    "architecture_energy": 53.281,
    "architecture_maturity": 8.097,
    "architecture_confidence": 94.205,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 27.03,
        "rotation_up": 12.06,
        "upward_expansion": 11.18,
        "deceleration": 38.75,
        "rotation_down": 62.07,
        "downward_expansion": 84.52
      },
      "activity_lines": [
        33.581334,
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        35.517527
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      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.666667
    },
    "latest_close": 34.16,
    "trend_reference": 36.003667,
    "distance_from_trend": -0.051208,
    "trend_direction": "Weakening",
    "fair_value": 69.131463,
    "distance_from_fair_value": -0.505869,
    "fair_value_direction": "Weakening",
    "relative_strength": -14.268955,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.164792,
    "excess_performance": -0.121083,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.051208,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.081031,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.505869,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.102102,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.14269,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.173101,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.164792,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.236465,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 246784,
      "relative_activity": 0.756026,
      "balance": 0.236465,
      "dry_up": 0.659762,
      "accumulation_observations": 0,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.085458,
      "annualized_volatility": 0.50058,
      "from_high_reference": -0.355472,
      "from_low_reference": 0.288084
    },
    "levels": {
      "trend_reference": 36.003667,
      "fair_value_reference": 69.131463,
      "structural_low": 26.52,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 23,
        "median_return": -0.036117,
        "positive_rate": 0.347826,
        "directional_follow_through": 0.652174,
        "median_excess_return": -0.025104,
        "regime_survival": 0.869565,
        "best_return": 0.196122,
        "worst_return": -0.248159,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
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        "positive_rate": 0.25,
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        "worst_return": -0.336279,
        "sufficient": true
      },
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        "horizon": "Extended",
        "sample_count": 4,
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        "positive_rate": 0.0,
        "directional_follow_through": 1.0,
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        "sufficient": false
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        "horizon": "Full cycle",
        "sample_count": 2,
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        "sufficient": false
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        "active": false
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        "regime": "deceleration",
        "label": "Deceleration",
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        "regime": "upward_expansion",
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      {
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        "regime": "balance",
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        "fair_value": 74.183135,
        "relative_strength": -6.206287,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
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        "energy": 19.807689,
        "activity_lines": [
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      },
      {
        "date": "2026-04-24",
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      },
      {
        "date": "2026-05-01",
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        "typical_volume": 352803.55,
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 370129.2,
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      },
      {
        "date": "2026-05-15",
        "close": 36.810001,
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        "typical_volume": 437031.95,
        "trend": 40.043333,
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        "relative_strength": -10.938213,
        "stage": 1,
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        "direction": -5.649454,
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        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 440457.5,
        "trend": 39.695667,
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      },
      {
        "date": "2026-05-29",
        "close": 35.98,
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        "trend": 39.178333,
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 429955.7,
        "trend": 38.741333,
        "fair_value": 72.239749,
        "relative_strength": -10.278842,
        "stage": 4,
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        "direction": -34.420357,
        "energy": 21.583634,
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      },
      {
        "date": "2026-06-12",
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      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "stage": 4,
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        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -39.941295,
        "energy": 21.422643,
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          35.893334,
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          36.615613
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      },
      {
        "date": "2026-07-03",
        "close": 36.119999,
        "volume": 43692,
        "typical_volume": 367598.35,
        "trend": 37.435667,
        "fair_value": 70.975539,
        "relative_strength": -11.368176,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -36.008794,
        "energy": 18.788193,
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          35.954667,
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      },
      {
        "date": "2026-07-10",
        "close": 34.75,
        "volume": 157113,
        "typical_volume": 363462.3,
        "trend": 37.164,
        "fair_value": 70.63395,
        "relative_strength": -13.930311,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -52.01643,
        "energy": 25.291726,
        "activity_lines": [
          35.55,
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          36.203619,
          36.340946
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      },
      {
        "date": "2026-07-17",
        "close": 34.029999,
        "volume": 182223,
        "typical_volume": 360851.3,
        "trend": 36.869333,
        "fair_value": 70.298585,
        "relative_strength": -15.531639,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -57.282608,
        "energy": 38.192239,
        "activity_lines": [
          34.989333,
          35.421091,
          36.045809,
          36.138753
        ]
      },
      {
        "date": "2026-07-24",
        "close": 33.290001,
        "volume": 245193,
        "typical_volume": 354332.1,
        "trend": 36.553667,
        "fair_value": 69.948398,
        "relative_strength": -14.841517,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -60.237562,
        "energy": 47.74229,
        "activity_lines": [
          34.304,
          34.979636,
          35.830095,
          35.907828
        ]
      },
      {
        "date": "2026-07-31",
        "close": 32.560001,
        "volume": 187246,
        "typical_volume": 335838.3,
        "trend": 36.216,
        "fair_value": 69.546498,
        "relative_strength": -18.200726,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -64.683074,
        "energy": 57.512129,
        "activity_lines": [
          33.578,
          34.469455,
          35.550381,
          35.650172
        ]
      },
      {
        "date": "2026-08-07",
        "close": 34.16,
        "volume": 246784,
        "typical_volume": 326422.8,
        "trend": 36.003667,
        "fair_value": 69.131463,
        "relative_strength": -14.268955,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -55.792326,
        "energy": 53.281104,
        "activity_lines": [
          33.581334,
          34.308909,
          35.415191,
          35.517527
        ]
      }
    ],
    "method": {
      "price_basis": "completed market observations",
      "trend": "Trend provides the primary directional reference.",
      "fair_value": "Fair Value provides long-term price context and is not a forecast or target.",
      "relative_strength": "Relative Strength shows leadership or lagging performance against the market benchmark.",
      "classification": "The SM framework combines Trend, Activity, Fair Value, Relative Strength and participation into a structural read."
    }
  }
}